by our College Data Analytics TeamThe total cost of attendance at University of Iowa can seem overwhelming, but remember that the majority of students receive some sort of financial assistance. This could be in the form of scholarships, grants, work-study, or loans.
What financial aid options does Iowa offer, and what will you qualify for? Keep scrolling for answers.
University of Iowa average financial aid offer for freshmen students is $7,354.00. Financial aid is provided to about 87% of first-year students, with the bulk of support coming in the form of loans.
Financial aid helps decrease the expense, or the “sticker” price of the school. But keep in mind that the only real discounts off the cost of college are in the form of grants and scholarships.
Uneasy about the debt that may be included in your financial aid plan? Find the average amount of debt per student at University of Iowa.
Institutional scholarships and grants are financial aid awards given by colleges and universities to help students manage tuition costs and other education-related expenses. These awards, which do not need to be repaid, can be classified as merit-based or need-based. Students who excel academically, possess unique talents, or have specific skills can be eligible for merit-based institutional scholarships. Factors such as high school performance, standardized test scores, or participation in extracurricular activities often contribute to eligibility for these scholarships. Need-based institutional grants, on the other hand, are awarded to students who demonstrate financial need. The amount given is generally based on the student’s family’s financial situation, aiming to cover the gap between the cost of attendance and the family’s capacity to pay. To assess a student’s eligibility for need-based grants, colleges and universities may rely on information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants are essential for students, as they can substantially lower college expenses and make higher education more affordable.
The following numbers pertain to assistance that is supplied by University of Iowa.
62% of new students (3050 total) were given scholarships at University of Iowa, averaging $10,311.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 28% of freshmen (1396 total) obtained a federal grant, for about $4,178.00 a piece.
Amount of Financial Assistance Per Income Level
The table below demonstrates scholarship and grant allocations by income level for freshmen receiving any type of federal Title IV assistance, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 4.83% | $11,252.00 |
| Income 30k-48k | 3.43% | $9,298.00 |
| Income 48k-75k | 5.06% | $6,780.00 |
| Income 75k-110k | 4.37% | $4,087.00 |
| Income 110k + | 5.99% | $2,290.00 |
The table above displays undergrads who are getting Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
Of the 4925 undergraduate students at University of Iowa around 87% (3533 total) receive some form of grant aid. The typical amount awarded was $7,354.00.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.